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Journalising purchase and sale transactions - perpetual system [ 1 5 - 2 0 min ] The following transactions occurred between Belvidere Pharmaceuticals and D

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Journalising purchase and sale transactions- perpetual system [15-20 min] The following transactions occurred between Belvidere Pharmaceuticals and D & 5, a pharmacy chain, during July of the current year (all amounts exclude GST):
D &S purchased $ 12000 of goods from Belvidere on credit terms of 3/10, n/30, FOB delivery point. Separately, D & S paid a $200 bill for freight in. These goods cost Belvidere $3600 D &S returned $3000 of the goods purchased on 6 July. Belvidere accounted for the sales return and placed the goods back in inventory (Belvidere's cost, $1200) D & S paid $6000 of the invoice amiount owed to Belvidere for the 6 July purchase, less the discount D & S paid the remaining amount owed to Belvidere for the 6 July purchase
Jul6
10
15
27
Requirements Journalise these transactions on the books of D & S, without accounting for GST. T Journalise these transactions on the books of Belvidere Pharmaceuticals, accounting for gst
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